executive directors. As a result, only directors’ remuneration is mentioned in the Company’s regulations. The Board of Directors’ Meeting No. 9/2010, held on 29th September 2010, consequently approved the

changes of cost. Consequently, it affected the profit margin. the Company still has no policy to overstock but to manage the inventory turnover efficiently. Beside this, The Company focused on managing the

also resulted in a cannibalization effect. Consequently, same store sales growth for HomePro did not meet target. However, in response to the above effects, the Company has organized various activities

also resulted in a cannibalization effect. Consequently, same store sales growth for HomePro did not meet target. However, in response to the above effects, the Company has organized various activities

sales promotion expenses in the first quarter thanks to new products the Company introduced during the end of the past year. Consequently, sales expenses to sales revenue ratio edged up dramatically from

and 0.20 times, consequently, which is low risk on financial leverage. Please be informed accordingly, Yours sincerely, (Ms. Nita Treeweeranuwat) Vice President tel:02-455-2888

competition is severe. However, the Company is rated A- by Tris Rating Co., Ltd. Consequently, the Company is able to save costs from lower interest rates when raising funds from financial institutions or

to payment on short-term liability was still high. While Debt to Equity ratio of the Group and Interest Bearing Debt to Equity ratio was 0.84 times and 0.23 times, consequently, which is low risk on

Financial Statements for the Second quarter ended June 30,2019. Please find enclosed the Management Discussion and Analysis Please be informed accordingly. Yours sincerely -Signed - Miss.Pakatip Lopandhsri

machinery along with cutting down provision of financial support for Power Plant business. Consequently, the aforementioned disposition of 3 subsidiaries engaging in Power Plant Business, Auditor is of the